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How To Avoid Online
Credit Card Fraud

If you have ever shopped online, then you
might know about some of the dangers associated with
online purchasing and online credit card fraud. If you
are not careful, you could end up being a victim of
online fraud, which could leave you with a large bill to
pay of items that you have not purchased. Here is some
more information about the dangers of online credit card
fraud and how to avoid them.

If you have ever shopped
online, then you might know about some of the dangers
associated with online purchasing and online credit card
fraud. If you are not careful, you could end up being a
victim of online fraud, which could leave you with a
large bill to pay of items that you have not purchased.
Here is some more information about the dangers of
online credit card fraud and how to avoid them.

Why shop online?

If there are dangers to shopping
online, then why do so many people do it? Well, the
dangers of online fraud are only equal to those of any
other type of transaction. Also, online shopping is
often much cheaper and quicker than regular shopping,
and consumers who want to find great deals without
leaving their home are turning to online stores.

Use credit not debit

The first tip to help
you avoid online fraud is to make sure you try and use a
credit card to purchase goods rather than a debit card.
This is because credit cards are much safer than debit
cards and have far more security features. If someone
were to get hold of your debit card details, you are
unlikely to be protected. However, credit cards are
usually covered by purchase protection, meaning that
items you have not bought will be refunded to you.

Use HTTPS

When shopping online, it is
important to make sure you only enter your card details
over a secure connection. If you enter your details on a
page that is not secured, it will be easy for fraudsters
to get your details and use them to purchase items. To
make sure the page is secure, check that the page
address starts with https://. This means that the page
is secure, and it is safe to use. If it does not start
with this prefix, then do not enter your details.

Use trusted web sites

Although making sure
the page is secure is important, you should try and make
sure you only use tried and trusted web sites for
purchasing online. Using small or unknown sites can lead
to problems, whereas if you stick to large company sites
that are used by many then you are more likely to stay
safe. These large web sites have better security
features in place, and are more likely to help you with
any problems regarding unauthorised transactions.

Keep all details

If you make a purchase
online, make sure that you print out all of the details
of the order, such as the company name and address as
well as an invoice number and the amount you have spent.
If anything goes wrong then you will have some record of
the transaction and be able to sort out the situation.

Computer protection

It is important to
remember that as well as being safe online, you should
make sure your computer itself is safe. The easiest way
for a fraudster to get to your financial information is
to hack into your computer. Make sure you have adequate
anti-virus protection that is up-to-date and that you
have firewall in place. This will help to stop
fraudsters getting hold of your information, and keep
your money safely where it belongs.

This scam starts with a phone call usually
at your home. The callers do not ask for your card
number, they already have it. By understanding how the
VISA & MasterCard Telephone Credit Card Scam works,
you'll be better prepared to protect yourself or staff.

The scam works like this: Person calling says, "This
is (name), and I'm calling from the Security and Fraud
Department at VISA.

My Badge number is 12457.
Your card has been flagged for an unusual purchase
pattern, and...

credit card scam, stole credit
card, fraud alert

This scam starts with a phone
call usually at your home. The callers do not ask for
your card number, they already have it. By understanding
how the VISA & MasterCard Telephone Credit Card Scam
works, you'll be better prepared to protect yourself or
staff.

The scam works like this: Person calling
says, "This is (name), and I'm calling from the Security
and Fraud Department at VISA.

My Badge number is
12457. Your card has been flagged for an unusual
purchase pattern, and I'm calling to verify. This would
be on your VISA card which was issued by (name of bank).
Did you purchase an Anti-Telemarketing Device for
$497.99 from aMarketing company based in Arizona?"

When you say "No", the caller continues with, "Then
we will be issuing a credit to your account. This is a
company we have been watching and the charges range from
$297 to $497, just under the $500 purchase pattern that
flags most cards. Before your next statement, the credit
will be sent to (gives you your address), is that
correct?"

You say "yes". The caller continues -
"I will be starting a Fraud investigation. If you have
any questions, you should call the 1-800 number listed
on the back of your card and ask for Security.

You will need to refer to this Control Number. The
caller then gives you a 6 digit number. "Do you need me
to read it again?"

Here's the IMPORTANT part on
how the scam works. The caller then says, "I need to
verify you are in possession of your card". He'll ask
you to "turn your card over and look for some numbers".
There are 7 numbers; the first 4 are part of your card
number, the next 3 are the CVV numbers that verify you
are the possessor of the card.

These are the
numbers you sometimes use to make Internet purchases to
prove you have the card. The caller will ask you to read
the 3 numbers to him. After you tell the caller the 3
numbers, he'll say, "That is correct, I just needed to
verify that the card has not been lost or stolen, and
that you still have your card.

Do you have any
other questions?" After you say No, the caller then
thanks you and states, "Don't hesitate to call back if
you do.” and hangs up.

You actually say very
little, and they never ask for or tell you the Card
number.

What the scammers want is the 3-digit PIN
number on the back of the card. Don't give it to them.
Instead, tell them you'll call VISA or Master card
directly for verification of their conversation.

Your credit card company will never ask for anything on
the card as they already know the information since they
issued the card! If you give the scammers your 3 Digit
PIN Number, you think you're receiving a credit.
However, by the time you get your statement you'll see
charges for purchases you didn't make, and by then it's
almost too late or more difficult to actually file a
fraud report.

How To Avoid Credit
And Charge Card Fraud

A thief goes through trash to find
discarded receipts or carbons, and then uses your
account numbers illegally.

A dishonest
clerk makes an extra imprint from your credit or charge
card and uses it to make personal charges.

You
respond to a mailing asking you to call a long distance
number for a free trip or bargain-priced travel package.
You're told you must join a travel club first and you're
asked for your account number so you can be billed. The
catch! Charges you didn't make are added to your bill,
and you never get your trip.

Credit and charge
card fraud costs cardholders and issuers hundreds of
millions of dollars each year. While theft is the most
obvious form of fraud, it can occur in other ways. For
example, someone may use your card number without your
knowledge.

It's not always possible to prevent
credit or charge card fraud from happening. But there
are a few steps you can take to make it more difficult
for a crook to capture your card or card numbers and
minimize the possibility.Guarding Against Fraud

Here are some tips to help protect you from credit
and charge card fraud.

Do:

* Sign your
cards as soon as they arrive.* Carry your cards
separately from your wallet, in a zippered compartment,
a business card holder, or another small pouch.*
Keep a record of your account numbers, their expiration
dates, and the phone number and address of each company
in a secure place.* Keep an eye on your card during
the transaction, and get it back as quickly as possible.
* Void incorrect receipts.* Destroy carbons.*
Save receipts to compare with billing statements.*
Open bills promptly and reconcile accounts monthly, just
as you would your checking account.* Report any
questionable charges promptly and in writing to the card
issuer.* Notify card companies in advance of a
change in address.

Don't:

* Lend your
card(s) to anyone.* Leave cards or receipts lying
around.* Sign a blank receipt. When you sign a
receipt, draw a line through any blank spaces above the
total.* Write your account number on a postcard or
the outside of an envelope.* Give out your account
number over the phone unless you're making the call to a
company you know is reputable. If you have questions
about a company, check it out with your local consumer
protection office or Better Business Bureau.

Reporting Losses and Fraud

If you lose your
credit or charge cards or if you realize they've been
lost or stolen, immediately call the issuer(s). Many
companies have toll-free numbers and 24-hour service to
deal with such emergencies. By law, once you report the
loss or theft, you have no further responsibility for
unauthorized charges. In any event, your maximum
liability under federal law is $50 per card.

If
you suspect fraud, you may be asked to sign a statement
under oath that you did not make the purchase(s) in
question.